Expensive News – South Beach mansion where Italian designer Gianni Versace was shot is up for auction

The seaside palace was once listed for $125 million, but bids will start in September at just $25 million. The 23,000 square-foot mansion is the scene of fashion designer Gianni Versace’s 1997 murder. It has 10 bedrooms, 11 bathrooms, a pool and courtyard.This undated photo made available by Casa Casuarina shows the exterior of Casa Casuarina in Miami Beach, Fla. The South Beach mansion once owned by Italian designer Gianni Versace is back on the market for $125 million according to a listing posted on Friday, June 8, 2012. (AP Photo/Casa Casuarina)

CASA CASUARINA LLC/AP

The exterior of the 23,000 square-foot oceanfront mansion.

MIAMI BEACH, Fla. — The South Beach, Fla., mansion once owned by Italian designer Gianni Versace and the place he was fatally shot is headed for the auction block.

Fisher Auction Company is handling the sale, set for Sept. 17. The 23,000 square-foot oceanfront mansion had been previously listed for $125 million.

Italian fashion designer Gianni Versace was killed in 1997.

GIANCARLO CALOJA/AP

Italian fashion designer Gianni Versace was killed in 1997.

Bids will start at $25 million.

Originally built in 1930, the 10-bedroom, 11-bathroom, gated home features a 54-foot long mosaic pool lined with 24-karat gold. It also includes numerous frescos, ornate statues, arched doorways and an open air courtyard.

Tourists walk by the mansion once owned by Italian designer Gianni Versace.

GREGORY SMITH/AP

Tourists walk by the mansion once owned by Italian designer Gianni Versace.

RELATED: VERSACE MANSION HITS MARKET FOR $125 MILLION 

“We are very pleased to have the opportunity to manage the sale of this one-of-a-kind property,” said Lamar Fisher, President and CEO of Fisher Auction Company, who said the sale should draw prospective buyers from around the world.

A decadent outdoor space and pool at the South Beach mansion.

AP

A decadent outdoor space and pool at the South Beach mansion.

In 1997, the 50-year-old Versace was killed in front of the property by a man who later committed suicide. Versace had purchased the home in 1992 and spent about $33 million renovating and adding another wing. Tourists can still routinely be spotted taking photos in front of the house.

The property had been operating as a 10-room boutique hotel for several years but closed earlier this year. A bankruptcy court has appointed Fisher Auction Company to handle the sale, in conjunction with Coldwell Banker Residential Real Estate.

A bedroom in the Florida mansion, built in 1930.

CASA CASUARINA LLC/AP

A bedroom in the Florida mansion, built in 1930.

Versace had many famous friends including Princess Diana, Madonna, Elton John and Cher.